Ecolomondo Secures Amended Loan Terms with EDC, Boosting Confidence
Montreal, QC -- March 27, 2025 -- NewsGenie -- Ecolomondo Corporation, a Canadian innovator in sustainable scrap tire recycling, has reached an agreement in principle with Export Development Canada (EDC) to amend its loan agreements. This development is expected to improve the company's working capital and bolster investor confidence.
The original C$32.5 million loan financed Ecolomondo's thermal decomposition facility in Hawkesbury, Ontario, which processes end-of-life tires into reusable resources. The revised terms include a temporary principal and interest holiday on this loan, subject to final documentation. EDC has also agreed to a similar holiday on two additional loans extended to Ecolomondo's subsidiary, Ecolomondo Environmental (Hawkesbury) Inc., totaling C$5 million.
Jean-François Labbé, Interim CEO of Ecolomondo, stated that the new loan conditions demonstrate stakeholders' strong belief in the success of the TDP technology. Ecolomondo has invested heavily in replacing milling and conveying equipment at the Hawkesbury facility's recovered carbon black (rCB) department, aiming for a capacity of 2,200 lbs of rCB per hour with specific particle size distribution.
Ecolomondo has also been nominated as a finalist at the 2025 Recircle Awards for the Tire Pyrolysis Award, recognizing contributions to the Circular Economy. The company's Thermal Decomposition technology (TDP) recovers valuable resources from scrap tires, including rCB, oil, syngas, fiber, and steel.
Ecolomondo's mission is to actively participate in a dynamic Circular Economy and enhance shareholder value by producing and supplying recovered resources for new product manufacturing. The company aims to be a leading producer of these resources by strategically locating TDP facilities in industrialized countries.
The Hawkesbury facility, once fully operational, is expected to process over 1.5 million scrap tires annually. Ecolomondo also has plans for a larger Shamrock facility with triple the output capacity. The company recently obtained International Sustainability and Carbon Certification (ISCC) for its Hawkesbury TDP facility. TDP process reduces GHG emissions by 90% versus the production of virgin carbon black.